The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) reached all time low today, Oct, 17 and still has $7.49 target or 10.00% below today’s $8.32 share price. This indicates more downside for the $146.43M company. This technical setup was reported by Barchart.com. If the $7.49 PT is reached, the company will be worth $14.64 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 150,434 shares traded hands. Applied Genetic Technologies Corp (NASDAQ:AGTC) has declined 42.27% since March 14, 2016 and is downtrending. It has underperformed by 47.88% the S&P500.

Applied Genetic Technologies Corp (NASDAQ:AGTC) Ratings Coverage

Out of 8 analysts covering Applied Genetic (NASDAQ:AGTC), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. Applied Genetic has been the topic of 14 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by BMO Capital Markets on Tuesday, September 13. The rating was maintained by Stifel Nicolaus on Tuesday, February 9 with “Buy”. Chardan Capital Markets initiated it with “Buy” rating and $25 target price in Wednesday, July 22 report. The firm has “Buy” rating given on Friday, March 18 by Janney Capital. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) earned “Outperform” rating by Wedbush on Tuesday, September 13. The stock of Applied Genetic Technologies Corp (NASDAQ:AGTC) has “Neutral” rating given on Monday, September 26 by Janney Capital. Wells Fargo initiated the stock with “Outperform” rating in Friday, December 4 report. The firm has “Hold” rating given on Tuesday, September 13 by Cantor Fitzgerald. TH Capital downgraded the shares of AGTC in a report on Tuesday, September 13 to “Neutral” rating. The company was maintained on Tuesday, September 13 by Stifel Nicolaus.

According to Zacks Investment Research, “Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. It develops gene therapy products for inherited orphan ophthalmology diseases. Its lead product candidates in the preclinical stage include treatments for X-linked retinoschisis, Achromatopsia, and X-linked retinitis pigmentosa, which are diseases of the eye caused by mutations in single genes. Applied Genetic Technologies Corporation is headquartered in Alachua, Florida.”

AGTC Company Profile

Applied Genetic Technologies Corporation, incorporated on October 24, 2003, is a clinical-stage biotechnology company. The Firm develops gene therapy products designed to manage the lives of patients with severe diseases in ophthalmology. As of March 31, 2016, its product candidates included treatments for X-linked retinoschisis (XLRS), over two forms of achromatopsia (ACHM) and X-linked retinitis pigmentosa (XLRP). As of March 31, 2016, the Company was engaged in developing three discovery programs, targeting three indications based on the Company’s adeno-associated virus (AAV) vector technologies. The Firm is also developing Alpha-1 Antitrypsin Deficiency (Alpha 1).